STAR refinery soon to reach full capacity (Exclusive)

Oil&Gas Materials 28 January 2019 20:39 (UTC +04:00)

Baku, Azerbaijan, Jan. 28

By Sara Israfilbayova - Trend:

The STAR refinery will soon reach full production capacity, Director General of SOCAR Turkey Zaur Gahramanov said in an interview with Trend.

Gahramanov noted that the opening of the refinery took place on Oct. 19, 2018.

"The refinery, in which $6.3 billion were invested, will supply its products domestically, and when it goes to full capacity, it will be able to meet needs of the Petkim petrochemical complex for raw materials," he said.

Its total refining capacity will reach 10 million tons, and thus will significantly reduce Turkey’s dependence on imports of petrochemical products, Gahramanov added.

Speaking about 2018 as a whole, the company's director general noted that it was successful for SOCAR Turkey. In particular, the company launched two giant projects and began working on new investment plans.

"In 2018, the Trans-Anatolian Gas Pipeline (TANAP) was opened, which is a very important strategic investment project of Azerbaijan and Turkey. The same year, on the border with Greece, TANAP was linked to the Trans-Adriatic Pipeline (TAP) and, thus, 16 billion cubic meters of gas will be supplied to Turkey and Europe annually through these pipelines," Gahramanov said.

Of this volume, he noted, six billion cubic meters will be transported via TANAP to Turkey, while 10 billion will be supplied to Europe via TAP.

"TANAP will help meet about 12 percent of Turkey’s needs for gas. In the future, gas pumping through TANAP can reach 24 billion cubic meters and then 31 billion cubic meters," the director general said.

Gahramanov added that one of the most important achievements of 2018 was that the Aliaga peninsula, where the STAR refinery and the Petkim petrochemical complex are located, received the status of a Special Industrial Zone.

"Thus, we will continue to promote the development of the economies of both Azerbaijan and Turkey," he said.

SOCAR is represented in Turkey by its subsidiary SOCAR Turkey Energy. So far, SOCAR Turkey Energy has invested over $14 billion in the Turkish economy. Meanwhile, 5,000 people work in the company, while the annual export potential reaches $3 billion. Among SOCAR’s current assets in Turkey are the Petkim petrochemical complex, the STAR refinery and the Petlim port.


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